Statement on Supreme Court Ruling in Trump v. Cook
June 29, 2026
WASHINGTON, D.C.—Following are statements from Democracy Defenders Fund, Lisa Cook, and Lowell & Associates PLLC, regarding today’s decision by the U.S. Supreme Court in Trump v. Cook.
Statement of Lisa D. Cook, Member, Federal Reserve Board of Governors
“This was never about mortgage documents signed years before I became a Federal Reserve governor. It was an attempt to remove me on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people. That is the most fundamental obligation of a Federal Reserve governor. Today’s ruling affirms a principle that has underpinned sound economic stewardship for generations: that the Federal Reserve must make all its policy decisions guided by evidence and independent judgment, free from political interference. This bedrock principle has guided the Federal Reserve since its founding.
“The Supreme Court’s decision to leave the lower court’s order in place and affirm the need for real process and real cause recognizes that Federal Reserve independence is essential to fulfilling the congressional mandate of price stability and maximum employment. I am grateful for this decision, not for my own sake, but for the sake of the American people, whose economic well-being depends on a central bank that answers to its mission, not political intimidation. For as long as I serve at the Federal Reserve, I will continue to uphold the principle of political independence in service to all Americans.”
Statement from Abbe D. Lowell and Norm Eisen, counsel for Governor Cook
“President Trump tried to remove Governor Cook to pressure the Federal Reserve into bending its monetary policy decisions to his political will. Making unproven allegations of mortgage fraud to justify a power grab has become a pattern of the Trump Administration, but today the Supreme Court said no and agreed with the lower court that Governor Cook can continue serving on the Board and the President has a substantial burden to carry out his plan to remove her. The Fed must operate free from political interference. This decision is a victory for the rule of law and for every American who depends on a stable economy.”
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Democracy Defenders Fund brings together a nonpartisan team to work with national, state and local allies across the country to defend in real-time the foundations of our democracy.
